Question

Madhu and Kavitha purchased a new house for 3,20,000 . Due to some economic problems they sold the house for 2,80,000 find (a) the loss incurred (b) the loss percentage

Answer 1

Answer:

Loss incurred is Rs.40000.

Loss percentage is 12.5%.

Solution:  

Given Data:

According to the question,

Madhu and kavitha purchased a new house Rs.3,20,000

Madhu and kavitha Sold a new house =2,80,000

Step-by-step explanation:

Step 1:

Cost price of the house =320000

Selling price of the house=280000

Step 2:

Loss = cost price – Selling Price  

= 320000-280000

= Rs.40000

Step 3:

Loss percentage =loss/cost price

=\frac{40000}{320000} \times 100

=12.5%

Step 4:

Result:

Loss incurred is Rs.40000.

The loss percentage is 12.5%.